What is money laundering?
Modern society currently faces a serious challenge in preventing money laundering, e.g. making the possession,
use, or disposal of money or other property obtained from criminal activities appear to be legal, and terrorism
financing – providing or gathering money or rendering financial services with the knowledge that the money is
intended to finance the organization, preparation for, or execution of terrorist acts or to support a criminal society
(criminal organization) created or being created to perform terrorist acts.
Individuals and legal entities whose income is earned illegally make various attempts to legalize their income.
For example, they may use other people’s personal data, including data that has been acquired fraudulently.
This may become a problem for people who become victims of fraud and are uninvolved in these parties’ criminal
Laws against money laundering
To prevent money laundering, organizations performing operations with money or other property are obligated
to comply with anti-money laundering laws of their local regulatory framework.
For FS International Limited, this will be the Anti-Money Laundering and Counter-Terrorism Financing Act No.
13 of 2014. The latter Act requires the verification of the identity of potential clients and assist government
agencies and financial organizations working to combat money laundering. FS International Limited has to
comply and to ensure compliance with the requirements of the Act against money laundering and financing
Client identity verification procedure
To ensure Compliance with the AML & CTF ACT requirements, the client identification procedure has to be
performed prior of the establishment of any business relationship; thus, it is performed during the registration
Ongoing monitoring of the identification and verification procedures is performed on various types of non-trading
operations, and as part of monitoring by our designated teams.
For the identification and verification procedures of our clients, FS International Limited requires personal data
and take steps to confirm the validity and accuracy of this information using a verification system developed by
The identification and verification procedure may take several working days to be completed; however, the
process must be completed within the timeline of fifteen (15) working days. Failure to complete the process within
the aforesaid timeline will mean that the registration is revoked.
Compliance with the Privacy Agreement
The personal data we receive is handled in accordance with the provisions of the Privacy Agreement.
Law Partners House, Kumul Highway, Port Vila, Vanuatu
As noted above, the reason for requesting and collecting personal data and documents is for the identification
and verification procedure, as required by the relevant AML & CTF Act. it does not mean that the Company has
suspicions that you are committing or are involved in any illegal acts.
Accordingly, your cooperation and understanding of these steps is necessary to effectively combat money
laundering and financing terrorism. Each of the affiliates of the Company is required to comply with AML and
All identification documents and services records shall be kept for the minimum period of time required by local
All new employees shall receive anti money laundering training as part of the mandatory new-hire training
program. All applicable employees are also required to complete AML and KYC training annually. Participation
in additional targeted training programs is required for all employees with day-to-day AML and KYC
To ensure compliance with the requirements of the AML & CTF Act, FS International Limited requires the
following, (but no exhaustive) documents from potential clients’ who register with the Company:
Physical Persons Legal Persons / Corporate Accounts
Proof of Identity: this can be a Passport or a National
Identity card or a Driving license.
Please ensure that the document is valid (i.e. not
expired) and that the provided copy is clearly readable.
Proof of address: this can be a utility bill (water,
electricity, gas, internet, landline), bank statement,
residence certification, tax return documentation or a
Please ensure that the document is on your name and
contains your full address. The document cannot be
older than six (6) months.
Certificate of Incorporation
Certificate of Director(s) and Secretary
Certificate of Registered Office
Certificate of Beneficiary Owner(s)/Shares certificate
Certificate of Incumbency/Good Standing
Memorandum & Articles of Association of the Company
The Company’s latest audited financial statements or the
Company’s latest management accounts or a Trial
Balance signed by the company’s accountants &
director(s) or any other documentation which indicates
the current financial situation of the Company.
Proof of identity and proof of current home address of
every Shareholder that has 10% or more shares.
A resolution by the Board of Directors of the Company
for the opening of a trading account with FX Globe and
to whom they grant authority to operate the trading
Full KYC documentation of the person who will operate
the trading account and at least one Director of the